Before you start reading the book, I think it's better to read John T. Reed's analysis of Robert T. Kiyosaki's book Rich Dad, Poor Dad, Part 1 instead. It's actually. Rich Dad Poor Dad by Robert Kiyosaki summarises the lessons learned from two different perspectives, that of a poor man, and that of a rich. If you purchase this book without a cover, or purchase a PDF, jpg, or tiff copy of this book, years ago, Robert Kiyosaki challenged conventional wisdom with his In , Robert's book, Rich Dad's Prophecy, advised that we prepare for.
|Language:||English, Spanish, German|
|Genre:||Politics & Laws|
|ePub File Size:||22.40 MB|
|PDF File Size:||12.65 MB|
|Distribution:||Free* [*Regsitration Required]|
Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money. Pages· · MB·, Rich Dad's Guide to Investing-Robert caite.info Rich Dad Poor Dad. Robert T. Kiyosaki. INTRODUCTION. There is a Need. Does school prepare children for the real world? “Study hard and get good grades. That The Poor And Middle Class Do Not! By Robert T. Kiyosaki. RICH. DAD If you purchase this book without a cover, or purchase a PDF, jpg, or tiff copy of.
One of the most common dreams among humans is likely getting rich, we can talk about it all we like, but the majority of us never really make it. He explains that there are two schools of thought when it comes to earning an income:. This summary will discuss five lessons of the rich that Kiyosaki outlines in his book. I do not own gold and silver to make money. Follow mymoneyblog.
Comments Andy says: April 9, at 6: Mike says: April 9, at 9: Max says: April 9, at 7: Site seems overloaded.. D says: April 9, at Brutal critique here: Tom Price says: April 11, at 6: May 29, at Free Starter Personal Finance Book: I'm Jonathan and I've been sharing about money since Father, husband, self-directed investor, financial freedom enthusiast, and perpetual learner.
More about me. Follow mymoneyblog. I do not trust the elites. They believe they know everything. They believe they are always right In their minds, they do not make mistakes.
They will never admit they are wrong. Elites are not the only ones with this affliction. We all know someone who is always right. At times, I am that person, too. The ancient and modern banking systems are built on printing fake money. Printing fake money is the way banks make money.
Banks are not the only organization with a license to print money. The stock market, bond market, real estate market, financial derivatives markets, and many other markets have licenses to print money.
Printing money is not new. Printing fake money is the foundation of the banking system. Understanding how money is printed offers you a better chance of doing well, in a world of fake money. Understanding how money is printed, you will better understand why poor people are poor and how not to be one of them. For thousands of years, money has taken many forms.
Money has been beads, feathers, stones, animals, and pottery. One of the earliest and most important forms of money has been cattle. Cattle have been the foundation for modern money for thousands of years. Cattle is real money, even today. Financial Literacy: Words, derived from cattle.
I do not trust myself. I know I do not know everything. I do not have all the answers.
I cannot predict the future. I know I must prepare for the future. I do not trust the elites who run our governments, banks, and Wall Street. I do not trust anyone who prints fake money. Real gold and silver have been here since the earth was formed. Gold and silver were here before the cockroaches and will be here long after the cockroaches are gone.
It was a lesson from of the three Wise Men. My Sunday school teacher was a great teacher. She was young, pretty, and loved teaching kids. During one class, she asked us: They came bearing expensive gifts.
However, despite its downfalls, accounting is the most important thing you can learn and understand if you want to make money in the long-term. Keep it simple and straightforward but make sure that they know the essentials. Kiyosaki emphasises the importance of understanding that there is a clear difference between assets and liabilities. You cannot spend your life buying liabilities, you need to be buying assets. Kiyosaki explains that rich people acquire assets and poor people acquire liabilities.
There should be one clear way to tell whether something is an asset or a liability. Ask yourself, does it put money in your pocket, or take money out?
An asset will put money into your pocket, be constantly providing a return. Whereas a liability will simply be sucking up your already limited funds. If you want to be rich, simply spend your life buying assets. If you want to be poor or middle class, spend your life buying liabilities.
And we know by now that spending more is not related to being happier. Kiyosaki explains that too many working professionals are struggling financially, they find themselves working harder and harder but never getting any further.
The main reasons that people are entering the workforce with little financial education. Whatever they have been taught in schools tends to be focused on how to make money, they forget about the importance of what to do with it when you have it and how to spend money wisely.
SO one of the biggest questions we face now is about owning a house. Is a house considered an asset or a liability? Kiyosaki explains that the majority of working professionals never actually own their homes, they spend their entire working life paying off a mortgage. The pattern of upgrading and buying a new house every few years leads to new year loans, each one larger than the previous.
Kiyosaki believes that having all of your money tied up in your house results in missed opportunities. You are forced to work harder and are fearful of ever being in a position without a regular, steady income.
You pour all of your hard earned cash into the house leaving little to invest in any other assets. Kiyosaki points out that most people purchase houses that are in fact too expensive, this is often because banks are all too happy to lend big amounts of money with high interest. By purchasing a house that is outside of your reasonable budget you are missing out on opportunities. Kiyosaki explains that you lose time, the time spent paying off your mortgage is time you lose with other assets that could be growing in value.
You miss out on additional capital from investments.
Often any extra money is spent on maintenance for the house rather than investing. Because they have no money to invest, they simply do not invest. They work first for the owners of the company, then for the government through taxes, and finally for the bank that owns their mortgage. Lesson No. Kiyosaki explains that people spend their entire life working for someone else, they are in constant financial strife and they have nothing to show for it when they reach the end of their career.
He explains that there are two schools of thought when it comes to earning an income:. Kiyosaki examined the current education system and how they are getting youth ready for the workforce. They focus all of the attention on getting a good job through learning scholastic skills.
Students then go on to study engineering, science, arts, armed forces etc. Once they are appropriately prepared and have the right qualifications, they enter the workforce and start earning an income.
Whenever Kiyosaki asks someone what their business is, they tend to reply with their job title. This highlights the problem that Kiyosaki has with schooling. Schools encourage students to become what they study.
A student studying cooking becomes a chef, someone studying law becomes a lawyer. People are so focused on the career and becoming what they study that they forget about the potential of owning their own business. Instead of focusing on making themselves richer, they dedicate all of their time and energy into making someone else richer.